TrustBIX Inc. Signs Contract to Develop Traceability Protocol with Biomass Quality Network Canada
October 21, 2021 (Source) — TrustBIX Inc. (TSXV: TBIX) (OTCQB: TBIXF) (“TrustBIX” or the “Company”) is pleased to announce that it signed an agreement on October 1, 2021, to develop a Biomass Quality Traceability Protocol for the Biomass Quality Network of Canada (“BQNC”). BQNC is facilitating the commercialization of agricultural biomass for industrial applications through the development and adoption of quality standards and methods.
BQNC Director and Chairman, Murray McLaughlin, said, “Agricultural biomass is not being used to its full potential for high-value products because of the limited knowledge and understanding of the standards that currently exist for the Canadian bioproducts industry.”
“TrustBIX was selected to guide BQNC in this work because it has demonstrated it can support the differentiation of products by tracking quality and sustainability attributes from producer to buyer through the value chain,” explained Tom Ogaranko, TrustBIX Chief Innovation Officer.
“Extending our extensive experience in tracking sustainable livestock for the Canadian beef industry, in February 2021 we announced a commercial pilot project with AllWest Demolition and Innovation Reduction Strategies Inc. to expand that work into biomaterials in Edmonton,” added Hubert Lau, TrustBIX CEO.
Collaborating with BQNC members on a potential protocol, TrustBIX sees an opportunity to leverage its new insights on managing biomaterials to support the bio industrial sector, assure their customers that the products manufactured with biomass can replace traditional materials, and trace their quality assurance standards, measurement protocols and grading systems throughout the value chain.
BQNC representative, Ray Bergstra, noted, “Enhanced traceability of these standards and measurements will further support the growth of the industry.”
“This work builds on TrustBIX’s extensive experience with chain of custody value solutions for all levels of the supply chain, from producers to consumers and to become a global leader for traceability in not only the agri-food business, but in the agricultural biomass industry,” proclaimed Hubert Lau.
About Biomass Quality Network Canada (BQNC)
BQNC is a value chain group created in 2015 to develop quality standards and measurement techniques to accelerate adoption of Canadian biomass in bioproducts for all stakeholders through the development and deployment of standards, methods and guidelines; management and monitoring of a certification system; and provision of value-added services. BQNC is working with all levels of the supply chain, from farmers to manufacturers, to become a global benchmark for quality standards to support the advancement of the bioproducts industry in three main sectors:
- Biorefineries (Biofuels and Biochemicals), and
Within the bioproducts industry, we are identifying and prioritizing gaps in quality standards, creating a database to record and link to existing standards information, developing standards where gaps exist, becoming a Canadian focal point for communications and coordinating activities with national and international standards organizations. For more information, visit https://www.bqnc.ca.
About TrustBIX (TSXV: TBIX)
As an innovative leader, TrustBIX provides agri-food traceability and chain of custody value solutions. The Company’s goal is to create a world where we trust more, waste less and reward sustainable behaviour by addressing consumer and agri-food business demands. The proprietary platform, BIX (Business InfoXchange system), is designed to create trust without compromising privacy through innovative, blockchain-derived use of technology and data. By leveraging BIX and its unique use of incentive solutions, TrustBIX delivers independent validation of food provenance and sustainable production practices within the supply chain – Gate to Plate®.
ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in Canada, United States, Mexico and China, such as Auction Master Pro, Market Master, Feedlot Solutions and pork grading probes.
This press release contains certain forward-looking information and reflects the Company’s present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “propose”, “anticipate”, “believe”, “forecast”, “estimate”, “expect” and similar expressions used by any of the Company’s management, are intended to identify forward-looking statements. Such statements reflect the Company’s internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company’s current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
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